TotalEnergies said to quit oil supply contracts from Russia

Energy major, TotalEnergies said it is gradually suspending its activities in Russia and will import gasoil from Saudi Arabia and crude via Poland. 

"Ensure strict compliance with current and future European sanctions, no matter what the consequences on the management of its assets in Russia, and gradually suspend its activities in Russia, while assuring its workforce's safety," TotalEnergies said in a statement published on Tuesday.

The company said that it will no longer enter into or renew contracts to purchase Russian oil and petroleum products, to halt purchases of Russian oil and petroleum products as soon as possible and by the end of this year.

They added that they will import petroleum products from other continents, mainly from Saudi Arabia. 

The company also said that it will "no longer record proved reserves for Arctic LNG 2 in its accounts and will not provide any more capital for this project."